YeagerAI, the development company behind the decentralized network GenLayer, has announced the public release of the Intelligent Oracle, an advanced AI-fueled oracle for distributed on-chain processing of data. The oracle might be integrated into various categories of dApps, as it supports various types of data.
YeagerAI introduces multi-purpose Intelligent Oracle
According to the official statement by its team, YeagerAI, a developer of AI-centric blockchain network GenLayer, releases a new-gen Intelligent Oracle. It is able to fetch data from various sources and natively index it for usage in decentralized applications.
The Intelligent Oracle is powered by Large Language Models (LLMs), integrated directly into GenLayer’s Optimistic Democracy consensus mechanism. Validators connect to LLMs, enabling the network to process nondeterministic transactions by fetching data from the internet.
When a query is made, a lead validator generates a proposed result, while other validators independently verify this output against the preset equivalence criteria. Optimistic Democracy ensures all decisions are accurate, reliable and secure.
This mechanism makes YeagerAI’s oracle suitable even for usage in data-extensive use cases when the accuracy of indexed data is of paramount importance. It makes interaction with data fast, secure, resource-efficient and highly customizable.
New product expected to launch on GenLayer testnet by the end of 2024
Initially, the Oracle kicks off on YeagerAI’s permissioned local development network, while the release on GenLayer’s public testnet is expected by the end of the year.
The launch of the Intelligent Oracle will prove a breakthrough for decentralized applications catering to use cases such as prediction markets, insurance and financial derivatives. GenLayer’s Intelligent Oracle enables cost-effective and fast data resolution.
While traditional oracles can take days to resolve prediction markets — incurring significant delays and costs — the Intelligent Oracle achieves transaction finality in less than an hour at a cost of under $1 per market.
